Convene’s Post

"Alongside macro factors like commute times, there is an 'experience gap' between office provision and employee requisites. Offices need to be better productized, amenitized, and culturized, providing a key focus on 'customer' (employee) satisfaction and brand. Businesses that are striking the right balance of in-person attendance have downsized their office footprint and focused instead on using real estate budgets to create a smaller but more collaborative and more exciting office space to highlight their culture while creating a workplace destination: half the space, twice the experience."

In contrast to the 2021 survey, companies based in the Asia-Pacific region are displaying a greater inclination to increase the use of flexible or coworking spaces in order to adapt to evolving workplace requirements. Knight Frank (Y)OUR SPACE survey indicates that larger corporations are increasingly considering this option. Read more:  https://lnkd.in/gGUzFb48 #knightfrank #knightfrankmalaysia #KnightFrankAPAC #YourPartnersinProperty #knightfrankspeaks #knightfrankinsights #knightfrankthoughts #knightfrankspeakinglah #knightfrankresearch #knightfrankmalaysiaturns21 #YOURSPACE #OfficeTrends #Redensification #BusinessShift #property #realestate #office #commercial #FlexibleWorkspace #HybridWork #CorporateTrends

Are you a small business or startup? Don’t miss this article on avoiding “the enemy” (a lease) Companies warm to co-working Eager to shed full-time office space they aren’t using in favor of more flexible leases to save costs, bosses are giving employees the option to rent co-working spaces by the hour, by the day or on a recurring basis. “The lease has become the enemy right now for some of these companies,” said Jacob Bates, head of flexible office and co-working business at commercial real estate company JLL. According to a JLL report from May, 40% of the companies it surveyed plan to increase their use of flexible spaces, including co-working sites. Office Alternatives offers amentity-packed coworking solutions at affordable prices with month-to-month terms. Talk to us today about employee memberships https://lnkd.in/gEUb7wTP

What if I told you a major key to return-to-office success is already within reach? As we navigate post-pandemic fluctuations in revenue forecasts and office engagement, one possible solution relies on this simple truth – amenities don't have to lose money, if done correctly. In my latest Forbes Business Council piece, I talk about leveraging your amenities for maximum revenue while keeping users happy and excited to return to the office. #returntooffice #amenities #lulafit #workplaceculture

Sneak Peak 👀 Find out how landlords and coworking operators are monetizing spaces “24/7” Employees have voted with their feet and the verdict is in. The traditional five-day office model is settling into a well-defined three-day-a-week zone. Studies indicate this is great news for business profitability and employee productivity and well-being. The downside? A decline in space utilization for flexible workspace providers and landlords who seek to monetize space that is currently empty. Solutions? Andrea Pirrotti-Dranchak (MBA) (Managing Director, EXPANSIVE) joined up with Thomas Proctor (NCG), Jane Sartin (Flexible Space Association) and John Allen (Bruntwood) to delve into the world of around-the-clock revenue generation. Their findings are a 6-minute read away! ➡️Hint: Data plays a pivotal role in reimagining the workspace product line.⬅️ A must-read for landlords and asset owners as well as flexible workspace operators. Allwork.Space | FUTURE OF WORK® writer Andrea distilled their webinar into a 6-minute article. Check out the article and listen to the video for inspiration to activate your space “24/7”. ▶️ https://hubs.la/Q02gQT0w0

Is the return to the office worth it? That's the billion-dollar question. While labor experts debate the pros and cons of RTO, coworking spaces continue to gain popularity. WeWork, in particular, has seen an 18% YoY revenue growth from 2021 to 2022, with revenue up 7% in H1 2023. However, WeWork expressed "substantial doubt" about its ability to survive, citing "increasing competition in flexible space." According to a recent report from the Integrated Benefits Institute, almost half of workers would quit if their employer issued an RTO mandate. And during the hybrid work era, about one-third of workers said they'd quit if they were required to return to the office. But coworking spaces offer a unique benefit: cross-company connection. Industrious, for example, hosts happy hours that allow members to "connect on a human level, away from 9-to-5 grind," according to Finch. These connections can lead to new friendships and personal interests outside of the office. As operations managers, HR leads, and C-suites weigh the costs and benefits of RTO ultimatums, coworking spaces remain a popular option for those seeking flexible work arrangements.

Interesting article about the future of co-working and flex office space. Let me know if I can help you with your changing real estate needs! "To tap the pandemic-driven shift toward neighborhoods on the outskirts of downtown hubs "we changed our network strategy 18 months (to) two years ago after seeing exactly that," said Peri Demestihas, Industrious' senior director of real estate. A lot of towers in central business districts "just don't do it for people anymore, so our entire focus now is on those live-work-play areas. There are a ton of places where we're not, and a ton of opportunity to get to those places."

3 Reasons to Chuck Coworking and Get a Real Office

The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the burgeoning demand for hybrid working. Many of these property owners have vacant space to fill with the decline in demand for traditional office real estate. The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the burgeoning demand for hybrid working. IWG plcJoanne BushellAlan Van Der WesthuizenThierry CrenSaskia Gonnissen #IWG#hybridworking#flexibleworking#growth#realestate#partnerships#landlords#property#servicedoffices

3 Reasons to Chuck Coworking and Get a Real Office